Jefferson-Pilot Life Insurance Company has introduced the JPF Legend EXEC and JPF Legend EXEC NY universal life insurance policies.[@@]
Jefferson-Pilot Life has designed the policies with high early cash values to fit in executives benefits programs.
The policies could be used in key-person life insurance programs, unrestricted Section 162 executive bonus plans, Supplemental Executive Retirement Plans, non-qualified deferred compensation plans, and split-dollar programs, according to Jefferson-Pilot Life, which is a unit of Jefferson Pilot Corp., Greensboro, N.C.
The policies come without surrender charges, and holders can begin taking out “zero spread” loans starting in policy year 11, Jefferson-Pilot says.